Brendel Financial Advisors LLC Has $3.06 Million Stake in Tesla, Inc. $TSLA

Key Points

• Brendel Financial Advisors LLC reduced its position in Tesla, Inc. by 7.5%, owning 9,622 shares worth approximately $3.06 million as of the end of the last quarter.
• Several brokerages have issued ratings on Tesla, with HSBC maintaining a "reduce" rating and a target price of $120.00, while Canaccord Genuity set an increased price objective of $333.00 and rated the stock as a "buy."
• Tesla reported a net loss in earnings for the last quarter, with an EPS of $0.40, falling short of the consensus estimate of $0.43, and revenue of $22.50 billion, which was below analyst expectations of $23.18 billion.

Brendel Financial Advisors LLC decreased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,622 shares of the electric vehicle producer's stock after selling 782 shares during the period. Tesla comprises about 1.7% of Brendel Financial Advisors LLC's investment portfolio, making the stock its 25th biggest holding. Brendel Financial Advisors LLC's holdings in Tesla were worth $3,057,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent research reports. Canaccord Genuity Group raised their target price on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. The Goldman Sachs Group raised their target price on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $317.70.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $9.22 during mid-day trading on Friday, reaching $426.07. 92,721,496 shares of the company traded hands, compared to its average volume of 86,324,392. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.42 trillion, a PE ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The stock has a fifty day simple moving average of $340.68 and a 200-day simple moving average of $308.35.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 EPS. Tesla's revenue was down 11.8% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.